[Tom Lee: The Crypto Market is Dragged Down by Deleveraging, Parabolic Rises in Cryptocurrencies Often Follow Precious Metals] BlockBeats News, January 24, BitMine Chairman and Fundstrat Co-founder Tom Lee stated in an interview with CNBC, 'Cryptocurrencies have always been affected by deleveraging. The "1011" crash hit the market hard, marking the largest deleveraging event in cryptocurrency history. Then this week, cryptocurrencies were performing well until the "Greenland" statement was released, which triggered fluctuations in Japanese government bond yields and further deleveraging in cryptocurrencies. So, I think, unfortunately, cryptocurrencies should somewhat follow the trend of gold, but the impact of deleveraging must be removed. I believe this is the real factor affecting cryptocurrencies. I think cryptocurrencies remain very important as a settlement layer, but this is more about smart blockchains. In other words, compared to Bitcoin, this is more of an Ethereum story. Bitcoin has faced some recent challenges because of concerns that quantum computing could steal or compromise one-third of old Bitcoin wallets. I don’t think the Bitcoin narrative is broken. It’s just waiting for regulatory clarity, and institutional adoption is growing. So, I still don’t think a $200,000 Bitcoin is that crazy. It’s merely a doubling in price. Historically, parabolic rises in cryptocurrencies often follow parabolic rises in precious metals. So, unless this doesn’t happen in the coming years, I don’t think this is a story that has ended.'